Panama Golden Pineapple
Panama Golden Pineapple was Farmfolio’s first offering in the Republic of Panama, successfully raising $2.2 million. Partnering with legendary pineapple farmer Edna Vergara and her son Paul, we shifted PGP's market strategy towards high-color, high maturity fruit shipped by air. Taking advantage of Panama's logistical and climactic advantages, PGP utilized Farmfolio's global presence and the La Dona brand to establish Panama as an origin of premium Air Pineapple.
Located a mere 40 minutes from the Panama Canal, the acquired land from the net 117 hectares consists of 38 hectares of prime pineapple-growing land in the lush coastal lowlands of Chorrera, Panama with sufficient water and road access in order to compensate for water shortage during the dry season with help of irrigation systems played across the property.
Properly planted, each hectare can hold 30,000-50,000 plants achieving a net yield of 50-60 tons during the average 12-month plant cycle. This high-yield production requires significant water access, and the Panama Golden Pineapple team has installed several water reservoirs across the property.
The PGP property is also unique for its ideal proximity to ports, airports, and the Panama Canal. This allows us to utilize premium air freight with great efficiency, and PGP’s pineapples can reach international markets as far as Dubai in a matter of days. Our logistical capabilities are a key component of PGP’s success, and will only improve with time.
Panama Golden Pineapple currently holds ownership of 2 new tractors, aside from the existing 3 tractors owned by Verba Odrec, the operator. Additionally, the partnership acquired a new Spary boom which can be utilized for a variety of applications including pesticides, weed control, and induction throughout the fruit’s 12-month growing cycle.
Our special MD2-variety pineapple is outstandingly sweet and juicy, and our sustainable, artisan-style farming techniques allow us to deliver some the highest quality fruits on the market. By concentrating on air freight shipments to high-end markets in Europe, PGP is able to provide fruits with high- and ultra-high maturity and color.
|Number of Shares||2200|
|Total Capital to Raise||$2,200,000|
|Avg. 10 Year Yield||18.67%|
|20 year Total Return||168%|
The story of Edna Vergara is the story of Panama Golden Pineapple, no more, no less. Edna’s visionary leadership guided her operation to the forefront of Panamanian agriculture, and it was impossible not to see the potential in her and her farm. With her son Paul Vergara, an agribusiness expert, manning the helm of day-to-day operations on the farm and Farmfolio providing capital and management services, Panama Golden Pineapple’s success has been as sweet as the pineapples themselves.
|Land Plant Supply||21.45%|
|Land Purchase Family||15.98%|
|First Year Lease (75 ha)||3.00%|